NEWARK INVESTS $2 MILLION IN $100 MILLION FUND TO SUPPORT BLACK AND LATINX BUSINESSES
Newark, NJ—October 6, 2022—Mayor Ras J. Baraka announced today that the Newark Municipal Council voted yesterday to invest $2 million in the New Jersey 40 Acres and a Mule Fund (NJ FAM Fund). It is an investment fund targeted to reduce the wealth, health and social disparities that exist with Black and Latinx communities when compared to the general population.
Local Initiative Support Corporation’s Black Economic Development Fund Partners with The New Jersey “40 Acres and a Mule” Fund to Invest Up to $25M in New Jersey
Newark, NJ, Oct. 20, 2021 (GLOBE NEWSWIRE) — The New Jersey “40 Acres and a Mule” Fund (NJ “FAM Fund”), a private investment vehicle established to reduce socio-economic disparities resulting from systemic racism, announced today a partnership with the Local Initiatives Support Corporation’s (LISC) Black Economic Development Fund (BEDF) to enable co-investment opportunities in New Jersey.
NEW JERSEY “40 ACRES AND A MULE” (FAM) FUND ANNOUNCES FIRST INVESTMENT PROJECT WITH GROUND BREAKING
Newark, N.J. (August 24, 2021) – The New Jersey “40 Acres and a Mule” Fund (NJ FAM) today announced its first deal leveraging funding from key investors including Bank of America, AT&T, Panasonic, RWJ Barnabas Health, and Shaquille O’Neal.
Bank of America to Invest in the New Jersey “40 Acres and a Mule” (FAM) Fund Formed to Combat Systemic Racism
Newark, N.J. (May 26, 2021) – The New Jersey “40 Acres and a Mule” Fund (NJ FAM) today announced that Bank of America has committed to provide an equity investment in its NJ FAM Fund. The fund is a $100 million private investment…
NJ FAM Fund Created to Support NJ Latinx and Black Businesses and Communities
Staff, (February 18, 2021) — On February 18, Mayor Ras J. Baraka of Newark, Mayor Dwayne D. Warren of Orange, Mayor Ted R. Green of East Orange, Mayor André Sayegh of Paterson, Mayor Frank Moran of Camden, Mayor Reed Gusciora of Trenton, Mayor Tony Vauss of Irvington, and Mayor Marty Small Sr. of Atlantic City proudly announce the creation of the…
NJ FAM Fund Created to Support NJ Latinx and Black Businesses and Communities
Staff, (February 18, 2021) — Today, eight mayors from urban cities announced the creation of the NJ FAM (New Jersey 40 Acres and a Mule Fund), with the collective goal of putting capital directly in the hands of New Jersey’s Black and Latinx business owners and communities, which traditionally suffer from the greatest barriers in access to these resources…